KNOW YOUR MARKET AND CUSTOMER
- The concept of market segmentation, demographics, phychographics and niche markets
- How to create a simple customer profile
- How to use customer and competition profiles to calculate and analyze market potential
- Product fit
- Who is the customer, industry problem and the solution?
The Marketing Fundamentals
- Product – what are you selling. How is it different to what is currently on the market and how does it solve/ fill a gap?
- Markets– are there specific markets that the product is more suited to. Where will the product be sold? Sales channels.
- Price – what is the pricing strategy? High volume/ low price? Premium sales/ high price?
- Purpose of marketing – message, differentiate features, provide information, retain customers, stimulate demand etc.
- Sales leads – how to achieve with successful messaging and marketing
- Attract the ideal customer and create a buying mindset
- Increase conversations in ‘non-salesy’ manner
- Sales talk - How to overcome objections and prevent them from coming up again
- Creating referrals to create steady flow of customers
- Customer service
- Good will and reputation
- Risk of customers
- Negotiation skills
- How to sell products
- How to sell services
Market research is one of the most useful tools that a small business can use to understand customers and maximise the potential for profit and growth. You will gain an understanding of why you should do market research, how to do market research, how to implement the research into your marketing and sales strategy so that you leverage growth strategies.
A marketing plan looks at market conditions, your position within a market, and how you will reach and persuade an audience, a sales plan focuses on customers.
You will come away with the ability to create a sales plan that details your customers' expectations and buying trends. You will learn how to set sales KPIs for your teams and how you will measure the success of your efforts, not just in terms of an increase in total sales, but also, for example, through an increased conversion rate of calls and visits to sales.